TopHat Enters into 5-year Agreement with BoKlok to Build 200 New Affordable Homes in UK

The United Kingdom’s provider of affordable homes BoKlok UK, which is jointly owned by Skanska and Ikea, has announced the appointment of TopHat to construct its first houses in the UK. TopHat has entered into a five-year contract to build 200 new two- and three-bedroom homes. It will fulfill this agreement using a £75m capital investment from Goldman Sachs. The BoKlok homes are being built using timber frames, Ikea fittings, and Modern Methods of Construction (MMC) technology. When finished, the homes – in Bristol, and the Sussex towns of Worthing and Peacehaven – will be divided between market sales, local authorities and housing associations. Travis Cannell, the managing director for Goldman Sachs said in prepared remarks that “Their (TopHat) speed, efficiency and high standards make them uniquely positioned to drive critical change in the way the industry currently operates and improve the housing supply chain. We look forward to supporting their continued growth.”